Funding you earn now, next payment 00:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.09 per $10,000 · paid last 24h −0.052%
Price spread now: OKX against Bitget−0.040%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$490.494% of the position
Funding, last 7 days−0.063%−$6 on $10k
+Price spread, last 7 days+0.101%+$10 · spread now −0.040%, 7d avg −0.001%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.039% cheaper against Bitget than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.001%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget OPUSDT | 0.1258 | 0.0100 | pay 0.0100% / 8h | 2h 05m | $6.0M | $6.2M | 75x |
| Short | OKX OP-USDT-SWAP | 0.1258 | 0.0091 | get 0.0091% / 8h | 2h 05m | $5.9M | $29.7M | 50x |
Bitget OPUSDT
OKX OP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bitget. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$1.97
- Price spread: −0.040% → −0.001%
- −$3.9
- Slippage, 4 orders
- −$27.42
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$55.29
- Costs to cover
- 0.494%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 2 min ago; OKX: live order book, 3 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Bitget live order book, 2 min ago | 3.96 bp | 13.6 bp −$14 | 23.2 bp −$232 | 97.5 bp −$9,746 | doesn't fit |
| Sell OKX live order book, 3 min ago | 0.40 bp | 10.9 bp −$11 | 33.6 bp −$336 | doesn't fit | doesn't fit |
OP on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1658% | 1h | 0.1254 | −0.318% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1257 | −0.050% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0545% | 1h | 0.1257 | −0.079% | $41K | $171K | 25x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0328% | 1h | 0.1243 | −1.192% | $21K | $64K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1260 | +0.184% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1258 | 0.000% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0035% | 8h | 0.1260 | +0.129% | $230K | $44K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0042% | 8h | 0.1257 | −0.079% | $6K | $50K | 10x | as long as short |
| OKX OP-USDT-SWAPshort | +0.0091% | 8h | 0.1258 | −0.040% | $5.9M | $29.7M | 50x | |
| Lighter OP | +0.0096% | 1h | 0.1258 | +0.032% | $270K | $908K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate OP_USDT | +0.0099% | 8h | 0.1258 | −0.016% | $1.8M | $1.5M | 50x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1259 | +0.111% | $4.1M | $3.0M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1258 | −0.019% | $211K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1257 | −0.046% | $20.4M | $62.6M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1256 | −0.135% | $18.3M | $25.4M | 75x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1257 | −0.056% | $19.9M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1257 | −0.079% | $2.9M | $7.6M | 75x | as long as short |
| Bitget OPUSDTlong | +0.0100% | 8h | 0.1258 | long leg | $6.0M | $6.2M | 75x | |
| BingX OP-USDT | +0.0100% | 8h | 0.1257 | −0.072% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1257 | −0.064% | $124K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1261 | +0.239% | $11K | $382K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1261 | +0.238% | $312K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1262 | +0.318% | $45K | $720K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1257 | −0.048% | $168 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1260 | +0.135% | $174K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1257 | −0.058% | $101K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1257 | −0.046% | $4K | — | 3x | as long as short |
| Kraken Futures PF_OPUSD | +0.0136% | 1h | 0.1259 | +0.062% | $778K | $732K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1260 | +0.127% | $1.0M | $281K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0436% | 1h | 0.1257 | −0.117% | $699 | — | 20x | as long as short |
Gate OP_USDT
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
MEXC OP_USDT
KuCoin OPUSDTM
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP